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"I have two basic rules about winning in trading as well as in life: (1) If you don't bet you can't win. (2) if you lose all your chips, you can't bet."
--- Larry Hite from Market Wizards by Jack D. Schwager
I read some from your link. Apparently she doesn't trade anymore.
The tips were generally good.
This one was interesting:
"Trading should be boring, like factory work."
You have a quote from Market Wizards as your signature, so I'll comment on that.
I actually read Market Wizards many years ago. I liked it. There is one thing I remember about 'hope' which
is in the image below, taken from the book. Hope is supposed to be so so bad in trading, but for those traders
that stick with the trend until it ends, I think hope is just fine. Like so many things in life it really depends on
what you do with it. The knife you cut carrots with, can cut your finger as well.
"Instead, traders should...hope for a larger profit."
that quote as well as the "40 tips" are from John Carter's book Mastering the Trade, which this person put up on their website. I believe the quote, as well as the tips, are primarily geared towards day trading, which only allows a finite amount of time for hope.
In regards to following the trend until it ends, I was always partial to:
"There is no reason to sell a rising stock."-- Nicholas Darvas, from How I Made $2,000,000 In The Stock Market
"I have two basic rules about winning in trading as well as in life: (1) If you don't bet you can't win. (2) if you lose all your chips, you can't bet."
--- Larry Hite from Market Wizards by Jack D. Schwager
One has to wait for the probabilities to shift to one's favor. But waiting for the
perfect time is just waiting too long.
"Patience has its limits. Take it too far, and it's cowardice."
- George Jackson
==============================================
Somewhat off-topic, it is the same way in music. This is more often
heard in wind instruments.
"silence is music too"
The song Old Bear Spirit is below. In the song there are a number of
pauses, ie. silence. If they weren't there, it wouldn't be the same song.
One can easily hear this just by listening to only the first 30 seconds of the video.
"Formal education will make you a living; self-education will make you a fortune." - Jim Rohn
"Experience is simply the name we give our mistakes." - Oscar Wilde
"History has demonstrated that the most notable winners usually encountered heartbreaking obstacles before they triumphed. They won because they refused to become discouraged by their defeats." -B. C. Forbes
A common mistake is to
think of the market as a personal nemesis. The market, of course, is totally
impersonal; it doesn’t care whether you make money or not.
Regardless of the approach used, once a strategy is selected, the trader should
stick to his game plan and avoid impulsive trading decisions.
Most people make the mistake of increasing their
bets as soon as they start making money. That is a quick way to get wiped out.
